Date 31.08.2026
NIFTY OUTLOOK: 24080.40 FII -7985.88 cr DII 4588.88 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as selling pressure is continued and nifty were failed to get supportive buying and slide upto 23993.6
Further a bearish candle with lower wick suggest that continuation of selling pressure and sellers attempt to break down the support of 24000. Hence if it continue with its selling pressure then on decisively breakdown of 24039 it may slide further upto 23997 to 23957. If more supply will accentuate then it may have chances to test 23916.
Furthermore this candle also indicts that buyers has made an effort to defend the support of 24000 hence if buyers will succeed to defend this support then nifty may rally upto 24163 to 24205 on successful surpassed of 24121. If more demand will accentuate then it may have chances to test 24245.
Bank Nifty OUTLOOK:
SPOT: 58024.95 Pcr: 1.12 Max Ce OI on 57500 & Max Pe OI on 57500
On August 31, 2026, a Bank Nifty index was closed at 58024.95 (528.65) (0.92%). The total movement in the index was 837.60 during the trading session. The index made a high of 57187.35 and a low of 58024.95.
Technical view:
Important support and resistance level of Bank Nifty Future are 57544 and 58500 respectively.
Intra Day support and resistance level of Bank Nifty Future are 57784 and 57992 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 56.9. Below 30 is considered oversold and above 70 overbought.
Bank nifty Day SMA Analysis
Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 0 out of 8 SMA’s.
One Bullish active Candlestick Pattern was identified in bank nifty on daily chart.
- Closing Marubozu Uptrend
Important Pivot Point Levels for Today
Nifty (Spot)
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 23871.33 | 23932.47 | 24006.43 | 24067.57 | 24141.53 | 24202.67 | 24276.63 |
Bank Nifty (Spot)
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56628.95 | 56908.15 | 57466.55 | 57745.75 | 58304.15 | 58583.35 | 59141.75 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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